VanEck Vectors Steel ETF
ALTAR
Score™
9.8% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
17.2x P/Sales
ratio
0.7x
P/BV
ratio
1.3x Div.
yield
4.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Steel Index Fund seeks investment results that correspond to the price and yield of the Amex Steel Index.

FUND BASICS
Category Global Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Oct 10, 2006
Assets (mns) $81
Currency USD
Expense ratio 56 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 24
Wgt avg mkt cap (mns) $17,692
Large cap (>$10bn) 23.9%
Mid cap ($2-10bn) 55.0%
Small cap (<$2bn) 5.2%
Developed mkts 69.4%
Emerging mkts 30.6%

TOP TEN HOLDINGS
RIO TINTO PLC-SPON ADR 15.2 %
VALE SA-SP ADR 14.3 %
ARCELORMITTAL SA ADR 7.3 %
POSCO-ADR 6.6 %
CLEVELAND-CLIFFS INC 5.2 %
NUCOR CORP 5.1 %
STERLITE INDUSTRIES INDI-ADR 5.0 %
CIA SIDERURGICA NACL-SP ADR 4.6 %
RELIANCE STEEL & ALUMINUM 4.6 %
STEEL DYNAMICS INC 4.5 %
Total 72.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 34.5 %
BRAZIL 23.0 %
LUXEMBOURG 15.6 %
BRITAIN 15.2 %
SOUTH KOREA 6.6 %
INDIA 5.0 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
20.6% 20.6% 21.4% -1.9% 2.8%

Market Correlations
versus... Beta R-squared
S&P500 1.36 62%
MSCI EAFE 1.55 79%
MSCI Emg. Mkts. 1.28 69%

Technical Indicators
Recent close $46.95
30d moving avg. $46.45
Annualized volatility 32.6%
Short interest (ETF) 2.3%
Short interest (Underlying) 4.9%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 41
Turnover 2.4%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $1,026

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the VanEck Vectors Steel ETF ETF based on the alternatives' overlap in portfolio holdings with SLX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SLX Expense: 56 bp ALTAR Score™: 9.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SLX
Ticker Fund
Name
Overlap1
vs SLX
(%)
Expense
ratio
(bp)
Savings
vs SLX
(bp)
ALTAR
Score™
(%)
ALTAR
vs SLX
(%)
XME SPDR S&P Metals & Mining ETF 29.6 35 21 5.1 -4.7
ILF iShares Latin America 40 ETF 14.7 48 8 5.4 -4.5
FXZ First Trust Materials AlphaDEX Fund 12.8 65 -9 5.7 -4.1
AMER Emles Made in America ETF 10.8 49 7 6.8 -3.0
FTRI First Trust Indxx Global Natural Resources Income ETF 10.6 70 -14 7.5 -2.3
PAVE Global X U.S. Infrastructure Development ETF 9.6 47 9 4.2 -5.7
PSCM Invesco S&P SmallCap Materials ETF 9.6 29 27 6.8 -3.1
PYZ Invesco DWA Basic Materials Momentum ETF 9.6 60 -4 4.2 -5.7
AADR AdvisorShares Dorsey Wright ADR ETF 9.0 110 -54 3.5 -6.3
IFRA iShares U.S. Infrastructure ETF 7.9 40 16 5.0 -4.9
XMVM Invesco S&P MidCap Value with Momentum ETF 6.6 39 17 8.0 -1.8
FCPI Fidelity Stocks for Inflation ETF 6.0 29 27 5.7 -4.1
PICK iShares MSCI Global Metals & Mining Producers ETF 5.5 39 17 5.4 -4.5
VAW Vanguard Materials Index Fund 5.2 10 46 5.0 -4.9
FOVL iShares Focused Value Factor ETF 5.1 25 31 7.7 -2.1
JHMA John Hancock Multifactor Materials ETF 5.1 40 16 5.3 -4.5
COPX Global X Copper Miners ETF 5.0 65 -9 4.0 -5.8
FMAT Fidelity MSCI Materials Index ETF 5.0 8 48 5.0 -4.9
IYM iShares U.S. Basic Materials ETF 4.7 43 13 4.4 -5.4
GNR SPDR S&P Global Natural Resources ETF 4.4 40 16 5.1 -4.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 4.4 65 -9 10.0 +0.1
XMHQ Invesco S&P MidCap Quality ETF 4.2 25 31 5.3 -4.5
OIH VanEck Vectors Oil Services ETF 4.2 35 21 -0.2 -10.0
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 4.1 30 26 4.0 -5.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 4.0 74 -18 9.7 -0.1
SYLD Cambria Shareholder Yield ETF 3.7 59 -3 7.1 -2.7
RFV Invesco S&P Midcap 400 Pure Value ETF 3.5 35 21 8.9 -0.9
BICK First Trust BICK Index Fund 3.4 64 -8 3.2 -6.7
MXI iShares Global Materials ETF 3.3 45 11 4.9 -4.9
RTM Invesco S&P 500 Equal Weight Materials ETF 3.2 40 16 4.7 -5.1
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 3.1 35 21 7.2 -2.6
AFMC First Trust Active Factor Mid Cap ETF 2.9 65 -9 5.2 -4.6
RWK Invesco S&P MidCap 400 Revenue ETF 2.7 39 17 6.3 -3.5
ESGS Columbia Sustainable U.S. Equity Income ETF 2.6 35 21 7.4 -2.4
SVAL iShares US Small Cap Value Factor ETF 2.6 20 36 8.3 -1.6
FNI First Trust Chindia ETF 2.5 60 -4 2.4 -7.5
HAP VanEck Vectors Natural Resources ETF 2.3 50 6 4.8 -5.0
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.3 60 -4 8.7 -1.1
VRAI Virtus Real Asset Income ETF 2.3 55 1 8.8 -1.1
JKL iShares Morningstar Small Cap Value ETF 2.2 30 26 7.6 -2.3
IJJ iShares S&P Mid-Cap 400 Value ETF 2.2 18 38 6.9 -2.9
MDYV SPDR S&P 400 Mid Cap Value ETF 2.2 15 41 6.9 -2.9
NIFE Direxion Fallen Knives ETF 2.2 50 6 4.2 -5.7
GCOW Pacer Global High Dividend ETF 2.1 60 -4 9.9 +0.0
RDVY First Trust Rising Dividend Achievers ETF 2.1 50 6 6.4 -3.4
SLYG SPDR S&P 600 Small Cap Growth ETF 2.1 15 41 4.4 -5.4
IJT iShares S&P Small-Cap 600 Growth ETF 2.1 18 38 4.4 -5.5
TPHD Timothy Plan High Dividend Stock ETF 2.0 52 4 5.6 -4.3
RZV Invesco S&P Smallcap 600 Pure Value ETF 2.0 35 21 6.9 -2.9
XSHQ Invesco S&P SmallCap Quality ETF 2.0 29 27 5.3 -4.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 2.0 30 26 6.0 -3.8
IWN iShares Russell 2000 Value ETF 2.0 24 32 5.1 -4.8
XLB Materials Select Sector SPDR Fund 1.9 13 43 4.8 -5.1
EQRR ProShares Equities for Rising Rates ETF 1.9 35 21 6.2 -3.7
VUSE Vident Core US Equity Fund 1.9 48 8 7.3 -2.5
PSCI Invesco S&P SmallCap Industrials ETF 1.9 29 27 5.0 -4.9
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 1.9 60 -4 6.1 -3.7
VIOV Vanguard S&P Small-Cap 600 Value ETF 1.9 15 41 7.0 -2.8
ROSC Hartford Multifactor Small Cap ETF 1.8 34 22 6.5 -3.3
CVY Invesco Zacks Multi-Asset Income ETF 1.8 94 -38 8.2 -1.6
ONEY SPDR Russell 1000 Yield Focus ETF 1.8 20 36 7.2 -2.7
RNSC Small Cap US Equity Select ETF 1.8 60 -4 6.0 -3.8
IUSS Invesco Strategic US Small Company ETF 1.8 23 33 3.7 -6.2
VAMO Cambria Value & Momentum ETF 1.8 63 -7 5.4 -4.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 1.7 24 32 4.9 -4.9
ISMD Inspire Small/Mid Cap Impact ETF 1.7 60 -4 4.3 -5.5
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 1.7 30 26 8.1 -1.7
VTWV Vanguard Russell 2000 Value Index Fund 1.7 15 41 5.2 -4.6
SPSM SPDR Portfolio Small Cap ETF 1.7 5 51 5.7 -4.1
SLY SPDR S&P 600 Small Cap ETF 1.7 15 41 5.6 -4.2
JDIV JPMorgan U.S. Dividend ETF 1.7 12 44 6.7 -3.1
DRIV Global X Autonomous & Electric Vehicles ETF 1.7 68 -12 3.9 -5.9
VIOO Vanguard S&P Small-Cap 600 ETF 1.7 10 46 5.6 -4.3
IJR iShares Core S&P Small Cap ETF 1.6 6 50 5.7 -4.2
CZA Invesco Zacks Mid-Cap ETF 1.6 69 -13 5.6 -4.3
XJR iShares ESG Screened S&P Small-Cap ETF 1.6 12 44 5.8 -4.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 1.6 25 31 4.8 -5.0
RWJ Invesco S&P SmallCap 600 Revenue ETF 1.6 39 17 5.5 -4.4
VIOG Vanguard S&P Small-Cap 600 Growth ETF 1.6 16 40 4.3 -5.5
NOBL ProShares S&P 500 Dividend Aristocrats ETF 1.6 35 21 5.7 -4.1
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 1.6 75 -19 5.3 -4.6
DON WisdomTree U.S. MidCap Dividend Fund 1.5 38 18 6.7 -3.1
PY Principal Shareholder Yield Index ETF 1.5 15 41 7.8 -2.1
TPSC Timothy Plan US Small Cap Core ETF 1.5 52 4 5.7 -4.1
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 1.5 29 27 4.2 -5.6
AFSM First Trust Active Factor Small Cap ETF 1.5 77 -21 4.3 -5.5
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 1.5 35 21 6.0 -3.8
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 1.5 35 21 6.0 -3.8
HAIL SPDR S&P Kensho Smart Mobility ETF 1.4 45 11 4.1 -5.7
PRN Invesco DWA Industrials Momentum ETF 1.4 60 -4 4.8 -5.0
AVUV Avantis U.S. Small Cap Value ETF 1.4 25 31 6.4 -3.5
QDIV Global X S&P 500 Quality Dividend ETF 1.4 20 36 6.5 -3.3
TMDV ProShares Russell US Dividend Growers ETF 1.4 36 20 5.2 -4.6
FDVV Fidelity Core Dividend ETF 1.4 29 27 6.1 -3.8
FNK First Trust Mid Cap Value AlphaDEX Fund 1.4 70 -14 7.7 -2.1
VBR Vanguard Small Cap Value Index Fund 1.3 7 49 6.4 -3.4
JSML Janus Henderson Small Cap Growth Alpha ETF 1.3 30 26 5.9 -4.0
AVEM Avantis Emerging Markets Equity ETF 1.3 33 23 7.2 -2.6
IJS iShares S&P Small-cap 600 Value ETF 1.3 18 38 6.9 -2.9

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
VanEck Vectors Steel ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.8 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 56 bp
Equals: ALTAR Score 9.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 CATEGORY
AVERAGE
1.48
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.